Fincantieri Marine Group is moving forward with approximately $9.6 million in federal funding for manufacturing upgrades and workforce programs at its Wisconsin shipyards.
The funding includes approximately $8.3 million from the Navy’s Shipbuilding Capability Industrial Base program and a $1.3 million Maritime Administration Small Shipyard Grant.
The investments will add cutting, forming, welding and automation capabilities intended to improve production efficiency and support work on the Navy’s Landing Ship Medium program and other shipbuilding projects, the company said.
“This investment is an important demonstration of the Navy’s confidence in Fincantieri, our people and our ability to be a partner in strengthening American shipbuilding,” George Moutafis, CEO of Fincantieri Marine Group, said in a statement. “It also complements our efforts to put proven advanced manufacturing technologies into the hands of our employees so that we can deliver at speed.”
The Navy agreement also allows the company to continue its Employee Dependent Care Contribution Program through 2027. The program provides an annual tax-free payment of $5,000 to help employees cover child care and elder care costs.
Previous Navy funding supported a welding lab now under development at Fincantieri Marinette Marine. The facility will bring more welding training, qualification and recertification work in-house. Fincantieri said the lab will also serve as a model for expanding skilled-trade training across its Wisconsin yards.
Fincantieri said it has invested more than $800 million in its U.S. shipyards since establishing a presence in the country two decades ago. Its U.S. subsidiary, Fincantieri Marine Group, employs approximately 3,000 workers.
